Sweden: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in Sweden

In 2021, the Swedish iron oxide pigment market increased by 23% to $X, rising for the third consecutive year after two years of decline. In general, consumption recorded significant growth. Iron oxide pigment consumption peaked in 2021 and is expected to retain growth in the immediate term.

Iron Oxide Pigment Production in Sweden

In value terms, iron oxide pigment production shrank notably to $X in 2021 estimated in export price. Overall, production, however, saw a precipitous contraction. The pace of growth appeared the most rapid in 2017 when the production volume increased by 66%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Iron Oxide Pigment Exports

Exports from Sweden

In 2021, overseas shipments of iron oxide pigments increased by 18% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, saw a perceptible reduction. The pace of growth appeared the most rapid in 2017 with an increase of 74%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, iron oxide pigment exports soared to $X in 2021. Overall, total exports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +19.8% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 78% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Norway (X tons) was the main destination for iron oxide pigment exports from Sweden, with a 56% share of total exports. Moreover, iron oxide pigment exports to Norway exceeded the volume sent to the second major destination, Iceland (X tons), twofold. The third position in this ranking was taken by Finland (X tons), with a 7.9% share.

From 2012 to 2021, the average annual growth rate of volume to Norway totaled +28.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iceland (+25.8% per year) and Finland (+36.5% per year).

In value terms, Norway ($X) remains the key foreign market for iron oxide pigments exports from Sweden, comprising 54% of total exports. The second position in the ranking was held by Iceland ($X), with a 14% share of total exports. It was followed by Finland, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Norway totaled +34.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iceland (+26.2% per year) and Finland (+42.6% per year).

Export Prices by Country

The average iron oxide pigment export price stood at $X per ton in 2021, remaining stable against the previous year. Over the last nine years, it increased at an average annual rate of +3.5%. The growth pace was the most rapid in 2013 an increase of 22% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Iceland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Oxide Pigment Imports

Imports into Sweden

In 2021, imports of iron oxide pigments into Sweden reached X tons, rising by 2.5% on the previous year. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 259%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, iron oxide pigment imports expanded significantly to $X in 2021. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when imports increased by 38%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

Norway (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of iron oxide pigment imports to Sweden, together comprising 95% of total imports. These countries were followed by Denmark and Spain, which together accounted for a further 4%.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +3.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of iron oxide pigments to Sweden, comprising 68% of total imports. The second position in the ranking was held by Italy ($X), with an 11% share of total imports. It was followed by Norway, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+7.0% per year) and Norway (+2.5% per year).

Import Prices by Country

In 2021, the average iron oxide pigment import price amounted to $X per ton, with an increase of 11% against the previous year. Overall, the import price posted temperate growth. The pace of growth appeared the most rapid in 2013 an increase of 116% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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